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Registered number: SC700910
PM Slickline Services Limited
Unaudited Financial Statements
For The Year Ended 30 June 2025
Nuvo Scotland Limited
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—7
Page 1
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of PM Slickline Services Limited for the year ended 30 June 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PM Slickline Services Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of PM Slickline Services Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of PM Slickline Services Limited and state those matters that we have agreed to state to the director of PM Slickline Services Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PM Slickline Services Limited and its director as a body for our work or for this report.
It is your duty to ensure that PM Slickline Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of PM Slickline Services Limited . You consider that PM Slickline Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of PM Slickline Services Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
30 September 2025
Nuvo Scotland Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeen
AB12 4XX
Page 1
Page 2
Balance Sheet
Registered number: SC700910
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,412 -
6,412 -
CURRENT ASSETS
Debtors 5 - 6,000
Cash at bank and in hand 131,390 96,994
131,390 102,994
Creditors: Amounts Falling Due Within One Year 6 (130,742 ) (99,882 )
NET CURRENT ASSETS (LIABILITIES) 648 3,112
TOTAL ASSETS LESS CURRENT LIABILITIES 7,060 3,112
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,603 ) -
NET ASSETS 5,457 3,112
CAPITAL AND RESERVES
Called up share capital 10 10
Profit and Loss Account 5,447 3,102
SHAREHOLDERS' FUNDS 5,457 3,112
Page 2
Page 3
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P Mitchell
Director
29 September 2025
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 July 2023 10 1,271 1,281
Profit for the year and total comprehensive income - 31,831 31,831
Dividends paid - (30,000) (30,000)
As at 30 June 2024 and 1 July 2024 10 3,102 3,112
Profit for the year and total comprehensive income - 42,345 42,345
Dividends paid - (40,000) (40,000)
As at 30 June 2025 10 5,447 5,457
Page 4
Page 5
Notes to the Financial Statements
1. General Information
PM Slickline Services Limited is a private company, limited by shares, incorporated in Scotland, registered number SC700910 . The registered office is 17 Castlefield Gardens, Kintore, AB51 0SJ.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Assets held under finance leases are depreciated in the same way as owned assets.
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on cost
2.4. Financial Instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price
including transaction costs.
Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.
Basic financial liabilities
Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price. 
Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method. 
Financial liabilities are derecognised when the company's contractual obligations are discharged.
Equity instruments 
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. 
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 July 2024 -
Additions 6,995
As at 30 June 2025 6,995
Depreciation
As at 1 July 2024 -
Provided during the period 583
As at 30 June 2025 583
Net Book Value
As at 30 June 2025 6,412
As at 1 July 2024 -
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 6,000
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Corporation tax 8,805 7,421
Other taxes and social security - 403
Other creditors 74,776 52,696
Accruals and deferred income 1,856 1,834
Director's loan account 45,305 37,528
130,742 99,882
7. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 July 2024 Amounts advanced Amounts repaid Amounts written off As at 30 June 2025
£ £ £ £ £
Mr Phil Mitchell (37,528 ) 114,423 (122,200 ) - (45,305 )
The above loan is interest free and has no fixed repayment terms.
8. Related Party Transactions
As at 30 June 2025, there is a balance contained within other creditors of £74,776 (2024: £52,696) due to an individual who has participating interest in the company. This loan is interest free and has no fixed repayment terms.
Page 6
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9. Ultimate Controlling Party
The controlling party is P Mitchell.
Page 7